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Blackstone Affiliate Sells 81,215 SQFT Andover Distribution Center in Tukwila for $35.3MM to Kayne Anderson
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Blackstone Affiliate Sells 81,215 SQFT Andover Distribution Center in Tukwila for $35.3MM to Kayne Anderson
At roughly $435 per square foot for a 1966-vintage building on nearly 7.7 acres near Sea-Tac Airport, the May 26 transaction signals that well-located infill industrial in Tukwila’s freeway corridor can still command a premium even as the broader Puget Sound market grapples with an 11.5 percent vacancy rate and softening rents. An entity affiliated with Kayne Anderson has paid $35.3 million for the Andover Distribution Center, an 81,215-square-f…
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